5. Cost Data-gathering and modeling costs should be low relative to the cost of the project and must surely be less than the potential benefits of the project. All costs should be considered, including the costs of data management and of running the model.
We would add a sixth criterion:
6. Easy Computerization It must be easy and convenient to gather and store the information in a computer data base, and to manipulate data in the model through use of a widely available, standard computer package such as Lotus 1-2-3®. Quattro Pro®, Excel®, and like programs.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.